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Wang On Properties Ltd.
(1243)
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Rating:44Neutral
Price Target:
HK$0.03
▼(-35.00% Downside)
Action:Reiterated
Date:07/31/26
The score is held down primarily by weak financial performance—especially severe recent losses and negative margins—despite a strong rebound in operating/free cash flow that appears volatile and potentially unsustainable. Technicals add caution with the price still below the 200-day average, while valuation is constrained by a negative P/E (loss-making) and no dividend yield data to offset risk.
Positive Factors
Diversified Property Income Model
The combination of development sales and recurring rental income gives Wang On Properties more than one route to generate revenue. This mix can support resilience across property cycles, while retained investment properties may provide an ongoing income base alongside project-level gains.
Negative Factors
Severe Earnings Deterioration
The sharp reversal from profitability to deeply negative gross, operating, and net margins indicates weak earnings stability. Continued losses can reduce internal funding capacity, weaken shareholder returns, and make it harder for the company to demonstrate a durable turnaround in its development business.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Property Income Model
The combination of development sales and recurring rental income gives Wang On Properties more than one route to generate revenue. This mix can support resilience across property cycles, while retained investment properties may provide an ongoing income base alongside project-level gains.
Read all positive factors
Wang On Properties Ltd. (1243) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$410.40M
Dividend Yield13.53%
Average Volume (3M)800.72K
Price to Earnings (P/E)―
Beta (1Y)0.26
Revenue Growth11.33%
EPS Growth6.38%
CountryHK
Employees156
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-0.06
Shares Outstanding15,200,000,000
10 Day Avg. Volume470,455
30 Day Avg. Volume800,721
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.18
Price to Sales (P/S)0.33
P/FCF Ratio0.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Wang On Properties Ltd. Business Overview & Revenue Model
Company Description
Wang On Properties Limited operates as an investment holding firm, primarily concentrating on the acquisition, construction, and sale of commercial and residential real estate throughout Hong Kong. The company's operations are divided into three c...
How the Company Makes Money
The company primarily makes money through (1) property development sales—developing real estate projects and recognizing revenue when completed units or properties are sold; (2) property investment income—earning recurring rental income from inves...
Wang On Properties Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
42
Neutral
Cash Flow
57
Neutral
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.40B | 1.25B | 297.89M | 1.99B | 38.86M |
| Gross Profit | -67.14M | 139.23M | 59.77M | 316.25M | 15.54M |
| EBITDA | -858.08M | -781.64M | -540.08M | 42.79M | -62.37M |
| Net Income | -914.29M | -976.89M | -733.28M | 211.07M | 285.08M |
Balance Sheet | |||||
| Total Assets | 5.57B | 7.27B | 9.89B | 9.75B | 10.61B |
| Cash, Cash Equivalents and Short-Term Investments | 561.99M | 393.95M | 766.31M | 889.95M | 976.27M |
| Total Debt | 2.88B | 3.47B | 4.72B | 4.21B | 4.58B |
| Total Liabilities | 3.26B | 3.85B | 5.44B | 4.46B | 5.42B |
| Stockholders Equity | 2.57B | 3.48B | 4.45B | 5.27B | 5.17B |
Cash Flow | |||||
| Free Cash Flow | 920.72M | 918.14M | -724.49M | 329.63M | -3.04B |
| Operating Cash Flow | 921.48M | 918.24M | -724.14M | 347.81M | -3.03B |
| Investing Cash Flow | 90.01M | 328.45M | 410.14M | 327.05M | 3.42B |
| Financing Cash Flow | -873.52M | -1.62B | 428.50M | -897.30M | -377.90M |
Wang On Properties Ltd. Technical Analysis
Negative
0.04
Price Trends
0.03
Negative
0.03
Negative
0.03
Negative
Market Momentum
>-0.01
Negative
47.70
Neutral
138.89
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1243, the sentiment is Negative. The current price of 0.04 is above the 20-day moving average (MA) of 0.03, above the 50-day MA of 0.03, and above the 200-day MA of 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.70 is Neutral, neither overbought nor oversold. The STOCH value of 138.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1243.
Wang On Properties Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
46 Neutral | HK$310.90M | -0.07 | -330.41% | 17.32% | -48.10% | -106.59% | |
44 Neutral | HK$410.40M | -0.45 | -32.31% | 13.53% | 11.33% | 6.38% | |
44 Neutral | HK$413.33M | -0.18 | -24.20% | 3.33% | -58.34% | -39.05% | |
44 Neutral | HK$453.75M | -29.85 | -2.31% | ― | -30.38% | 76.05% | |
43 Neutral | HK$206.26M | -0.08 | -83.92% | 3.66% | -38.81% | -39.14% | |
40 Underperform | HK$101.78M | ― | 40.42% | 7.27% | -15.90% | -27.09% |
* Real Estate Sector Average
HK:1243
Wang On Properties Ltd.
0.03
>-0.01
-27.03%
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-28.46%
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-0.28
-66.05%
Wang On Properties Ltd. Corporate Events
Wang On Properties Posts HK$1.89 Billion in Preliminary Six-Month Contracted Sales
Oct 9, 2026
Wang On Properties Limited reported that, for the six months ended 30 September 2026, the group and its joint ventures achieved unaudited contracted sales of about HK$1,894.4 million, covering roughly 68,528 square feet of saleable area. For the q...
Wang On Properties Wins Strong Shareholder Backing at 2026 AGM
Aug 19, 2026
Wang On Properties Limited, a Hong Kong-listed property developer and investment company, operates with a board of executive and independent non-executive directors under the city’s real estate and corporate governance framework. Its busines...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.